LONDON (AFP) ??” Sterling was firmer after what the same economist described as "phenomenally strong" manufacturing figures.

LONDON (AFP) ??” Sterling was firmer after what the same economist described as "phenomenally strong" manufacturing figures, raising reliances for aggressive interest rate hikes ahead of Thursday's decision by dint of the Bank of England's rate-setting Monetary Policy Committee.

The British purchasing managers index for July rose to 563 from an upwardly revised 550 in June way above expectations for a fall to 545 with substantial rises in all the index's component parts

"The figures were in such a manner strong that it raises the debate as to whether the Bank of England might raise interest rates according to 50 basis points instead of 25" Mellor said, noting that manufacturing has always been the undivided area that could have held the BoE back from hiking rates.

Many analysts remain sceptical that the Bank of England will move that far, but still descry an increasing chance of back-to-back quarter point hikes in August